🔴 Release by URA Figures for PropNex Residential Q1 2022. Customise your own Infographics!
✨ In Q1 2022, both private residential and HDB resale flat prices posted slower growth in Q1 2022, as the impact of the new cooling measures – such as hikes in ABSD rates and tightening of the TDSR threshold – dampened sentiment and limited new launches and the seasonal lull reined in sales volumes. Private residential prices inched up by 0.7% QOQ, a slowdown from the previous quarter’s 5% QOQ. Developers sold 1,825 new private homes (ex. ECs) in Q1 2022, while 3,377 residential resale properties were transacted.
In Q1 2022, HDB resale prices continued to rise at a slower pace, increasing by 2.4% QOQ – this is the slowest quarterly growth since Q3 2020 where resale values climbed by 1.5% QOQ. Meanwhile, the HDB resale market sold 6,934 homes during the quarter, representing a 12.7% QOQ decline from the 7,940 flats transacted in Q4 2021.